Wedbush Securities Inc. Decreases Position in Mercadolibre Inc (NASDAQ:MELI)

Wedbush Securities Inc. trimmed its position in shares of Mercadolibre Inc (NASDAQ:MELI) by 3.1% during the second quarter, Holdings Channel reports. The firm owned 1,737 shares of the company’s stock after selling 55 shares during the quarter. Wedbush Securities Inc.’s holdings in Mercadolibre were worth $1,063,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NEXT Financial Group Inc boosted its position in Mercadolibre by 104.3% during the second quarter. NEXT Financial Group Inc now owns 47 shares of the company’s stock worth $29,000 after purchasing an additional 24 shares in the last quarter. CENTRAL TRUST Co boosted its position in Mercadolibre by 62.5% during the second quarter. CENTRAL TRUST Co now owns 52 shares of the company’s stock worth $33,000 after purchasing an additional 20 shares in the last quarter. Harvest Group Wealth Management LLC purchased a new stake in Mercadolibre during the first quarter worth $28,000. Icon Wealth Partners LLC purchased a new stake in Mercadolibre during the first quarter worth $32,000. Finally, Shine Investment Advisory Services Inc. purchased a new stake in shares of Mercadolibre in the first quarter valued at $34,000. Institutional investors own 84.06% of the company’s stock.

Several analysts have recently issued reports on MELI shares. Deutsche Bank upped their price objective on Mercadolibre from $600.00 to $725.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays upped their price objective on Mercadolibre from $615.00 to $730.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. upgraded Mercadolibre from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $563.00 to $750.00 in a research report on Tuesday. Zacks Investment Research upgraded Mercadolibre from a “hold” rating to a “buy” rating and set a $608.00 price objective on the stock in a research report on Friday, May 10th. Finally, BidaskClub downgraded Mercadolibre from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. Mercadolibre currently has an average rating of “Buy” and an average target price of $618.60.

NASDAQ MELI traded down $1.34 during trading hours on Wednesday, hitting $622.31. 169,517 shares of the company’s stock were exchanged, compared to its average volume of 614,303. The stock has a 50 day simple moving average of $633.80. Mercadolibre Inc has a 12-month low of $257.52 and a 12-month high of $698.98. The firm has a market capitalization of $34.03 billion, a price-to-earnings ratio of -758.91 and a beta of 1.76. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.34.

Mercadolibre (NASDAQ:MELI) last released its earnings results on Wednesday, August 7th. The company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.03. Mercadolibre had a return on equity of 1.62% and a net margin of 0.87%. The firm had revenue of $545.24 million for the quarter, compared to the consensus estimate of $507.68 million. During the same period in the prior year, the business posted ($0.25) earnings per share. The firm’s revenue for the quarter was up 62.6% compared to the same quarter last year. On average, research analysts anticipate that Mercadolibre Inc will post 0.79 EPS for the current fiscal year.

Mercadolibre Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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